Nassau Coliseum looks to stay for the time being

Voters in Nassau County voted down spending $400 million to construct a new arena and minor league baseball stadium.

With 71 percent of the votes counted, the no votes for the new arena were at 57% to 42%. As part of the plan, the current Nassau Coliseum would be torn down with the new arena being built.

It was pushed in the area as a last-ditch effort to keep the New York Islanders hockey team from moving after the 2015 season, when their contract wth the building ends. Owner Charles Wang hinted moving the team unless a new modern facility was built in the area. Wang said he was heartbroken, but that he would honor his lease and keep the team playing at the Coliseum at least through 2015.

The plan fell because of hard economics times, and voters reluctant to increase their property tax, which is already among the highest in the country.